SkyBridge Capital II LLC grew its stake in shares of Macy’s Inc (NYSE:M) by 23.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 470,359 shares of the company’s stock after buying an additional 89,159 shares during the period. SkyBridge Capital II LLC owned 0.15% of Macy’s worth $10,931,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in M. Penserra Capital Management LLC increased its position in Macy’s by 9.5% during the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares in the last quarter. Ffcm LLC grew its position in shares of Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after purchasing an additional 3,615 shares during the period. Financial Architects Inc grew its position in shares of Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after purchasing an additional 4,200 shares during the period. Edge Wealth Management LLC purchased a new stake in shares of Macy’s in the second quarter valued at $142,000. Finally, Pacer Advisors Inc. grew its position in shares of Macy’s by 3.2% in the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock valued at $193,000 after purchasing an additional 200 shares during the period. 81.69% of the stock is owned by institutional investors.
M has been the subject of a number of recent analyst reports. BidaskClub downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Vetr downgraded Macy’s from a “strong-buy” rating to a “buy” rating and set a $26.02 price objective for the company. in a research report on Thursday, July 27th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Macy’s in a research report on Thursday, September 14th. Finally, ValuEngine downgraded Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.63.
In other Macy’s news, Director John A. Bryant purchased 9,825 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $20.32 per share, with a total value of $199,644.00. Following the completion of the transaction, the director now directly owns 9,825 shares of the company’s stock, valued at approximately $199,644. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
Macy’s Inc (M) traded up 1.51% during trading on Friday, hitting $21.48. The stock had a trading volume of 2,271,759 shares. Macy’s Inc has a 52 week low of $19.32 and a 52 week high of $45.41. The company has a market cap of $6.54 billion, a PE ratio of 9.76 and a beta of 0.83. The stock has a 50-day moving average price of $21.53 and a 200-day moving average price of $24.80.
Macy’s (NYSE:M) last released its earnings results on Thursday, August 10th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Macy’s had a net margin of 2.71% and a return on equity of 21.38%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Equities analysts predict that Macy’s Inc will post $3.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 7.03%. The ex-dividend date of this dividend is Thursday, September 14th. Macy’s’s payout ratio is presently 68.64%.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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